Q2 2026 MongoDB Inc Earnings Call Transcript
Key Points
- MongoDB Inc (MDB) reported a strong quarter with revenue of $591 million, up 24% year-over-year, exceeding the high end of their guidance.
- Atlas revenue grew 29% year-over-year, representing 64% of total revenue, indicating strong performance and customer adoption.
- The company added over 5,000 customers in the last two quarters, ending the quarter with over 59,900 customers, showcasing robust customer growth.
- MongoDB Inc (MDB) achieved a non-GAAP operating income of $87 million, or a 15% non-GAAP operating margin, demonstrating profitability alongside growth.
- The company is emerging as a key component in AI infrastructure, with many new customers building AI applications on their platform, highlighting their relevance in the AI space.
- The non-Atlas business is expected to see a low 20% year-over-year decline in the upcoming quarter, indicating challenges in this segment.
- Gross margin declined slightly to 74% from 75% in the year-ago period, primarily due to Atlas growing as a percentage of the overall business.
- The company undertook a modest restructuring impacting less than 2% of employees, indicating internal adjustments and potential operational challenges.
- Despite strong growth, the AI cohort was not a material driver of the current quarter's growth, suggesting that AI-related revenue contributions are still in early stages.
- The enterprise adoption of AI is still in its early stages, with many enterprises cautious about deploying AI applications, which could delay significant revenue contributions from AI initiatives.
Good day everyone and welcome to MongoDB's second sixth quarter fiscal year 2026 earnings call. (Operator Instructions) Please note this conference is being recorded. Now it's my pleasure to turn the call over to Brian Denyeau from ICR. Please go ahead.
Thank you Carmen. Good afternoon, and thank you for joining us today to review MongoDB's second quarter fiscal 2026 financial results, which we announced in our press release issued after the close of the market today. Joining the call today are Dev Ittycheria, President and CEO of MongoDB; Mike Berry, CFO of MongoDB; and Jess Lubert, MongoDB's new Vice President of Investor Relations.
During this call, we will make forward-looking statements, including statements related to our market and future growth opportunities. Our opportunity to win new business, our expectations regarding Atlas consumption growth, the impact of non-Atlas business and multiyear license revenue, the long-term opportunity of AI, our financial guidance and underlying assumptions, and our
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